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Gold/Mining/Energy : Royal Oak-RYO

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To: Thomas P. Talbot who wrote (532)	12/6/1997 6:50:00 PM
From: Eric Freeman	Read Replies (1) of 1706

I agree, and I think that RYO is undervalued,(makes sense since I own a few shares and like the potential) Kemess does have value - However there are worries: copper price - projections done earlier were based on an average price of around $1.00 for copper, couple this with an uncertain low price for gold and the problem is obvious. So exactly what value is the question. Our big concern as shareholders must lie then with the price of these metals. All else will fall into place if the mine remains viable, but if we get another big drop in metal prices I think we might lose it all. So place your bets, because I do not think anyone really knows whats next. I think we we will see gold rebound, but when? In the case of RYO it seems more critical than many would like, as to timing of prices. IE need a stable or rising price to guarantee some results at Kemess. Therefore many are getting out. It is a real opportunity, or a complete loss in my opinion, as there is not much in between ground now. Are we lucky, do we look smart. We surely will know over the next 6 months. I'm in for the ride now - and will pick up a bit more at these prices. But not enough to lose sleep over it. Good luck to us - Eric

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